BSMR vs. FBDC
BSMR (Invesco BulletShares 2027 Municipal Bond ETF) and FBDC (FT Confluence BDC & Specialty Finance Income ETF) are both exchange-traded funds - BSMR is a Municipal Bonds fund tracking the Invesco BulletShares Municipal Bond 2027 Index, while FBDC is a Financials Equities fund actively managed by First Trust. BSMR is passively managed, while FBDC is actively managed. At a 0.03 correlation, their price movements are largely independent. BSMR charges 0.18%/yr vs 1.35%/yr for FBDC.
Performance
BSMR vs. FBDC - Performance Comparison
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Returns By Period
In the year-to-date period, BSMR achieves a 1.04% return, which is significantly higher than FBDC's -9.51% return.
BSMR
- 1D
- 0.05%
- 1M
- 0.41%
- YTD
- 1.04%
- 6M
- 1.31%
- 1Y
- 4.16%
- 3Y*
- 3.03%
- 5Y*
- 0.48%
- 10Y*
- —
FBDC
- 1D
- -2.98%
- 1M
- -7.81%
- YTD
- -9.51%
- 6M
- -10.31%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BSMR vs. FBDC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
BSMR Invesco BulletShares 2027 Municipal Bond ETF | 1.04% | 2.22% |
FBDC FT Confluence BDC & Specialty Finance Income ETF | -9.51% | -2.43% |
Correlation
The correlation between BSMR and FBDC is 0.03, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Jul 1, 2025 | 0.03 |
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Return for Risk
BSMR vs. FBDC — Risk / Return Rank
BSMR
FBDC
BSMR vs. FBDC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco BulletShares 2027 Municipal Bond ETF (BSMR) and FT Confluence BDC & Specialty Finance Income ETF (FBDC). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
| BSMR | FBDC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.74 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 7.37 | — | — |
| Martin ratioReturn relative to average drawdown | 23.41 | — | — |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| BSMR | FBDC | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.33 | — | — |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.16 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.22 | -0.70 | +0.91 |
Drawdowns
BSMR vs. FBDC - Drawdown Comparison
The maximum BSMR drawdown since its inception was -13.49%, smaller than the maximum FBDC drawdown of -20.60%. Use the drawdown chart below to compare losses from any high point for BSMR and FBDC.
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Drawdown Indicators
| BSMR | FBDC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.49% | -20.60% | +7.11% |
Max Drawdown (1Y)Largest decline over 1 year | -0.57% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -3.50% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -12.02% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | -17.24% | +17.24% |
Average DrawdownAverage peak-to-trough decline | -3.49% | -10.14% | +6.65% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.18% | — | — |
Volatility
BSMR vs. FBDC - Volatility Comparison
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Volatility by Period
| BSMR | FBDC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.34% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 0.92% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 1.25% | 18.06% | -16.81% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.03% | 18.06% | -15.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.72% | 18.06% | -12.34% |
BSMR vs. FBDC - Expense Ratio Comparison
BSMR has a 0.18% expense ratio, which is lower than FBDC's 1.35% expense ratio.
Dividends
BSMR vs. FBDC - Dividend Comparison
BSMR's dividend yield for the trailing twelve months is around 2.72%, less than FBDC's 11.52% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
BSMR Invesco BulletShares 2027 Municipal Bond ETF | 2.72% | 2.77% | 2.78% | 2.72% | 1.40% | 1.00% | 1.49% | 0.45% |
FBDC FT Confluence BDC & Specialty Finance Income ETF | 11.52% | 5.41% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
BSMR and FBDC have a correlation of 0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, BSMR is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.
BSMR is cheaper with a 0.18% expense ratio, compared with 1.35% for FBDC.
FBDC has the higher dividend yield at 11.52%, compared with 2.72% for BSMR.
BSMR is categorized as Municipal Bonds, while FBDC is Financials Equities. They also come from different issuers: Invesco and First Trust. Their fees differ too: 0.18% for BSMR and 1.35% for FBDC.
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